why clients struggle with growth
they need you. do they know why?
by martin bissett
passport to partnership
client service opportunities
thinking commercial real estate? think fast.
warn clients: do the deal, get the cost seg study, and claim the bonus depreciation before it sunsets.
by julio gonzalez
engineered tax services
julio gonzalez, founder and ceo of engineered tax services, has been named among the accounting today top 100 most influential people. gonzalez has been a pioneer in bringing specialized engineering tax studies to local cpa firms and mainstream america, which historically had only been available to fortune 500 through national accounting firms. engineered tax services also owns the growth partnership, able: crm for accountants, and inside public accounting.
alas, the 100 percent bonus depreciation rule—the federal tax law under the tax cuts and jobs act (tcja) of 2017 that made it possible for taxpayers to write off a property’s reallocation in the year of acquisition—will begin to sunset at the end of this year.
more in tax practice: new small firm cost seg opportunities | what gig workers want | survey: big worries for u.s. and small business | working harder for every dollar | for a few: why busy season 2022 beats 2021 | can the r&d tax credit be used to offset the amt? | 21 reasons tax clients fire accountants | unhappy about tax season? | individual tax refunds up 13% | shut down the tax charlatans | eight quick, easy ways to fix irs filing | a tax season worse than 2021? | 16 traits of the best tax clients | irs under covid: heroes or goats?
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in its place in 2023, an 80 percent bonus depreciation will be allowed for properties acquired in 2023, scaling down to 60 percent in 2024 (for properties acquired in 2024), 40 percent in 2025 (for properties acquired in 2025), 20 percent in 2026 (for properties acquired in 2026), and then zero percent in 2027 and later years for properties acquired in 2027 and afterward.
it’s important to note for your clients in real estate that bonus depreciation is applied to a property based on the year it was purchased (although there are some exceptions to this rule). and taxpayers can only claim bonus depreciation retroactively within two tax years of the original placed-in-service date. read more →
when clients say ‘no’
four ways to deal with their decision.
by ed mendlowitz
call me before you do anything: the art of accounting
i found out many years ago that i cannot spend my clients’ money.
i used to feel that if they did not want to “buy” a service i felt they must have, it meant i did not clearly convey the value to them. i do not feel this way anymore because the value is relative and draws on many issues the client might have and that i am not privy to.
more: when good things happen | when an employee’s growth has gaps | my first trainee | the growing pains of a small firm | giving clients the best you’ve got | why map programs are essential | how to become a specialist | secrets in specialties | making sure the son got proper credit | yes, shirt logos can matter | 10 more reasons cpas quit public accounting
in my earlier days i used to do the work anyway, feeling a responsibility to the client. it took me quite a while to realize that the responsibility is the clients’ and if they did not want to spend their money for it, i should not spend part of my life doing it on a pro bono basis. there were also times i felt the work was so essential to the client that i did it expecting their recognition of the importance and willingness to pay me afterward. stupid! my bad!
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when good things happen
be open to unexpected opportunities.
by ed mendlowitz
call me before you do anything: the art of accounting
my friend al is a sole practitioner with seven staff members and a thriving audit practice, besides the typical tax and small business tax clients.
more: when an employee’s growth has gaps | my first trainee | the growing pains of a small firm | giving clients the best you’ve got | why map programs are essential | how to become a specialist | secrets in specialties | making sure the son got proper credit | yes, shirt logos can matter | 10 more reasons cpas quit public accounting | family trees of clients
he is getting older, and while he has no plans to retire and is actively trying to grow his practice, he periodically meets with larger firms to see if there is an interest in acquiring his practice when that day comes. by doing this he stumbled on a fantastic business development formula.
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the three types of advisory services clients need today
how to use the whole-of-client approach.
by gary bolinger
profit in disruption
planning for positive change and why people do what they do (or don’t) is fundamental to advisory services.
more bolinger on advisory: you can’t separate the business from the client | tell managers what ownership means | clients: what accountants don’t understand | why accountants fail at consulting | advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
- coming soon: how accountants profit in disruption – a special report from 卡塔尔世界杯常规比赛时间 by gary bolinger.
click here to be notified when it’s ready.
your clients have both personal and business goals. over time you should assist the client in achieving both business and personal goals.
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